New Investors for Outfittery.de
The expanding market leader in curated shopping
Outfittery.de, the new e-commerce concept for men, has yet again gained notable investors for itself. Mangrove Capital Partners, RI Digital Ventures as well as the VC fund Kreativwirtschaft managed by IBB Beteiligungsgesellschaft are amongst them, having invested in the budding company at the start of this year. Not only did Outfittery.de gain new investors, but existing venture capitalists such as Holtzbrinck Ventures and High-Tech Gründerfonds have additionally stocked up on their shares. The young Internet startup has thus accrued a sizable amount of fresh capital that lies in the seven-figure range.
The founders Anna Alex and Julia Bösch established Outfittery.de in the beginning of 2012 in Berlin. The company follows an innovative concept in the realm of men’s fashion: every client is assigned to a personal style expert who compiles outfits specifically for his individual tastes and sends the assembled outfits via postal service to his home. The consultation beforehand is free of charge. Outfittery.de therefore manages to close the gap between traditional sales and e-commerce.
Concept blooms, plans to expand
The concept of personal shopping consultations is blooming. More than 20.000 customers have signed up for Outfittery.de’s services in the first year. A 25 person team is in charge of taking care of all of Outfittery.de’s clients and they seem to be satisfied, as customers keep ordering new Outfit Boxes every month.
Outfittery aims to increase its market share internationally with the new investments. “We are convinced by the potential of the model and are excited to support this innovative concept to reach international growth,” says Hans-Jürgen Schmitz of mangrove Capital Partners.
Rainer Maerkle of Holtzbrinck Ventures states, „The team has been able to make impressive developments in a short amount of time. The new group of investors has created the possibility for fast and continuous growth.“ „We are looking forward to working with our new partners and are sure that we will conquer the men’s fashion market with their help,“ says Anna Alex of Outfittery.de, „Our intention at Outfittery.de is to take over market leadership in all of Europe. Our
team is working together on this goal with passion and determination, giving our hearts to the cause!“
About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as seventeen commercial enterprises ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 573,5 million under management in two funds (EUR 272 million HTGF I, EUR 301,5 million HTGF II).